Litecoin is a Blockchain Currency protocol that is very similar to Bitcoin. Originally created by a then Google employee named Charles Lee, Litecoin has developed a very passionate following that is backed by a dedicated development team. This team and community are very forward thinking when looking into scaling and adoption issues and solutions. The large trading volume has helped Litecoin stay a leader in the FIAT (EUR,USD,GBP, etc..) gateway options after Bitcoin and Ripple.
Shorter blocktime of about 2.5 minutes is 4X faster than Bitcoin
Internal control by developers allows for faster development
First top cryptocurrency to test the lightning network
Has been consistently ranked as a top 10 cryptocurrency
Higher transaction capacity than Bitcoin
Like other POW (Proof of Work) protocols, the Litecoin network supports itself by rewarding miners with its native token “Litecoin”. Litecoin is an open source software project that was released under the MIT/X11 license. This license allows others to copy, modify, and distribute the software. Many other coins are further modifications of the Litecoin code.
